Investors scrambling to cover short positions in cocoa have sent its price surging 30% this year, making the chocolate ingredient one of this year’s best-performing assets. Cocoa futures fell to 10-year lows in New York in December 2017 after a year of pressure from record supply out of Ivory Coast, the world’s biggest producer. But signs of tighter supply and rising demand have spooked investors into slashing long-held bets on falling prices, sending cocoa to its highest level in 16 months.

Source: Wall Street Journal March 20, 2018 12:26 UTC